Electro Scientific Industries, Inc. (NASDAQ:ESIO) shares reached a new 52-week high on Tuesday . The stock traded as high as $14.62 and last traded at $14.63, with a volume of 392,942 shares traded. The stock had previously closed at $14.07.

Several research analysts have recently weighed in on the company. ValuEngine raised Electro Scientific Industries from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub lowered Electro Scientific Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, August 8th. Needham & Company LLC raised Electro Scientific Industries from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Thursday, August 3rd. Finally, Lake Street Capital reissued a “buy” rating and issued a $14.50 price objective (up from $10.50) on shares of Electro Scientific Industries in a research report on Monday, September 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $12.83.

The stock’s market capitalization is $490.41 million. The company’s 50 day moving average price is $12.61 and its 200 day moving average price is $9.18.

Electro Scientific Industries (NASDAQ:ESIO) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.20. Electro Scientific Industries had a negative net margin of 18.49% and a negative return on equity of 22.18%. The company had revenue of $72.70 million during the quarter, compared to the consensus estimate of $61.10 million. During the same period in the prior year, the firm earned $0.09 earnings per share. Electro Scientific Industries’s revenue was up 52.4% on a year-over-year basis. On average, equities research analysts anticipate that Electro Scientific Industries, Inc. will post $0.73 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in Electro Scientific Industries by 0.9% in the second quarter. California State Teachers Retirement System now owns 55,864 shares of the semiconductor company’s stock worth $460,000 after buying an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Electro Scientific Industries by 22.0% in the second quarter. The Manufacturers Life Insurance Company now owns 27,532 shares of the semiconductor company’s stock worth $227,000 after buying an additional 4,970 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Electro Scientific Industries by 27.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 158,889 shares of the semiconductor company’s stock worth $1,309,000 after buying an additional 34,430 shares in the last quarter. Symmetry Peak Management LLC bought a new position in Electro Scientific Industries in the second quarter worth about $227,000. Finally, State Street Corp raised its stake in Electro Scientific Industries by 13.4% in the second quarter. State Street Corp now owns 595,910 shares of the semiconductor company’s stock worth $4,911,000 after buying an additional 70,197 shares in the last quarter. 73.16% of the stock is owned by institutional investors.

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Electro Scientific Industries Company Profile

Electro Scientific Industries, Inc and its subsidiaries supply laser-based manufacturing solutions for industries reliant on microtechnologies. The Company operates through two segments: Component Processing and Micromachining. The Component Processing segment includes interconnect products, semiconductor products and component products.

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